The Central Government notifies the 'The Asthika Samaj, Mumbai' for the purpose of clause (23C)(v) of section 10 of the Income-tax Act, 1961 - 329/2002 - Income Tax Act, 1961
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Tax exemption notification: charitable status granted with conditions on income application, permitted investments and dissolution transfers. The Central Government notifies The Asthika Samaj, Mumbai as eligible under clause (23C)(v) of section 10, subject to conditions: apply or accumulate income wholly for its objects; invest only in permitted forms under the income-tax law except voluntary contributions maintained as jewellery or furniture; business income excluded unless incidental and accounted in separate books; regular filing of returns; and on dissolution transfer surplus and assets to a charitable organization with similar objectives.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption notification: charitable status granted with conditions on income application, permitted investments and dissolution transfers.
The Central Government notifies The Asthika Samaj, Mumbai as eligible under clause (23C)(v) of section 10, subject to conditions: apply or accumulate income wholly for its objects; invest only in permitted forms under the income-tax law except voluntary contributions maintained as jewellery or furniture; business income excluded unless incidental and accounted in separate books; regular filing of returns; and on dissolution transfer surplus and assets to a charitable organization with similar objectives.
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